For Each of the Following, Determine the Amount of Net

question 134

Essay

For each of the following, determine the amount of net income or net loss for the year.(a)Revenues for the year totaled $71,300 and expenses totaled $35,500. The shareholders purchased $15,000 of common stock during the year.(b)Revenues for the year totaled $220,500 and expenses totaled $175,000. The shareholders were paid $40,000 dividends during the year.(c)Revenues for the year totaled $149,000 and expenses totaled $172,000. The shareholders purchased $12,000 of common stock and were paid $16,000 in dividends during the year.(d)Revenues for the year totaled $198,150 and expenses totaled $174,200. The shareholders were paid $35,000 dividends during the year.

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Definitions:

Sympathetic Nervous System

Part of the autonomic nervous system that activates what is often termed the fight or flight response.

Autonomic Nervous System

The body system that takes messages to and from the body’s internal organs, monitoring such processes as breathing, heart rate, and digestion.

Cerebral Cortex

Part of the forebrain, the outer layer of the brain, responsible for the most complex mental functions, such as thinking and planning.

Cannon-Bard Theory

A theory of emotion that argues emotions and bodily responses occur simultaneously, not sequentially.